The deal, when sealed, would probably mark the third major brand acquisition by the Piramals in the last few years. Nicholas Piramal had earlier acquired the Lacto-Calamine skin lotion brand from Duphar Interfran and subsequently bought the Burnol brand (an antiseptic first aid cream) from Knoll Pharma via its joint venture with Reckitt & Colman, Reckitt Piramal.

The anti-infective brands involved are believed to be Tobraneg (tobramycin) to treat infections of the respiratory tract, central nervous system, Vancocin (vancomycin) for treatment of life-threatening staphylococcal infections resistant to other antibiotics, among others like Distaclor, Keflex and Mucokef. No official confirmation could, however, be got though indications are that certain legal formalities are still under consideration.

A faxed query from The Financial Express to the Piramal group on April 20 remained unanswered and attempts to reach the company's top brass were unsuccessful.

Significantly, analysts say that if the sale of brands go through, it could also cast doubts over the long-term future of the American multinational's joint venture with the Delhi-based Ranbaxy. "Eli Lilly Ranbaxy has probably not met expectations on the sales/profitability front if the US giant is disposing of these brands," an analyst with an Indian stock-broking house said.

Eli Lilly Ranbaxy is a 50:50 joint venture between the two partners and has been marketing a range of formulations like Illetin 30/70, Humalog and Huminsulin for diabetes, besides Gemcite for cancer. More recently, the company was reportedly working on clinical trials on a new human insulin combination used for the treatment of diabetes.

Ranbaxy and Eli Lilly have had a somewhat shaky relationship with both partners deciding to call off plans to undertake manufacturing activities through their research and development (R&D)-cum-production venture in India. The venture was essentially formed in 1995 to manufacture bulk drugs to feed the US market. The duo also mutually called off their US-based joint venture, Lilly Ranbaxy Pharmaceuticals initiated, to market dosage forms there.